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Ratings assigned and not accepted (as on 18 Jun 2026)

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Sl. No. Name of the Issuer Sector Security/Instrument Type Issue Size
(In INR Million) 		Date of Non-Acceptance Listing Status
(Listed/Proposed to be listed/Unlisted) 		Rating assigned along with Outlook
(if any) 		Whether the rating was accepted by the issuer, subsequent to the disclosure of un-accepted ratings?
(Yes/No) 		Date of subsequent acceptance of final rating assigned Final rating accepted by the issuer Whether the issuer requested for a review/appeal subsequent to disclosure of unaccepted rating?
(Yes/No) 		Whether review/appeal of the disclosed unaccepted rating was granted by ICRA.
(Yes/No) 		Remarks
(wherever applicable)
1 Asian Footwears Private Limited Consumer Durables Issuer Rating 0 18 Aug 2025 Unlisted [ICRA]BB+ (Stable) No No
2 Shreyas Sortex Industries Private Limited Agricultural Food & other Products Bank Facilities 500 14 Aug 2025 Unlisted [ICRA]BBB+(Stable) No No
3 Brindavan Beverages Private Limited Beverages Bank facilities 2500 12 Aug 2025 Unlisted [ICRA]BBB+(Stable) /[ICRA]A2 No No
4 New Sudarshan Silks Realty Bank Facilities 280 11 Aug 2025 Unlisted [ICRA]B(Stable) No No
5 Ganesh Cars Private Limited Automobiles Bank Facilities 500 11 Aug 2025 Unlisted [ICRA]BB(Stable) No No
6 S S GAS LAB ASIA PRIVATE LIMITED Chemicals & Petrochemicals Issuer Rating 0 30 Jul 2025 Unlisted [ICRA]BB+ (Stable) No No
7 Bimal Auto Agency Automobiles Bank Facilities 1000 17 Jul 2025 Unlisted [ICRA]BBB-(Stable) No No
8 Vaswani Estates Developers Pvt Ltd. Realty Bank Facilities 4000 17 Jul 2025 Unlisted [ICRA]BB+ (Stable) No No
9 Apollo Micro Systems Limited Aerospace & Defense Bank Facilities 500 16 Jul 2025 Unlisted [ICRA]BBB(Stable) /[ICRA]A3+ No No
10 Gem Edible Oils Private Limited Agricultural Food & other Products Bank Facilities 250 15 Jul 2025 Unlisted [ICRA]BBB(Stable) /[ICRA]A3+ No No
11 Ocean Lifespaces India Private Limited Construction Bank Facilities 4750 08 Jul 2025 Unlisted [ICRA]A (Stable) Yes 12 Jul 2025 [ICRA]A (Stable) No
12 Teems India Towerlines Private Limited Electrical Equipment Bank Facilities 24 08 Jul 2025 Unlisted [ICRA]A4+ No No
13 AMPIN Energy Green Four Private Limited Power Bank Facilities 4420 04 Jul 2025 Unlisted [ICRA]BBB+ (Stable) Yes 15 Jul 2025 [ICRA]A- (Stable) No
14 Junobo Hotels Private Limted Leisure Services Bank Facilities 750 03 Jul 2025 Unlisted [ICRA]B+(Stable) Yes 25 Aug 2025 [ICRA]BBB(Stable) No
15 Ganesh Consumer Products Limited Agricultural Food & other Products Bank Facilities 680 01 Jul 2025 Unlisted [ICRA]A+(Stable) /[ICRA]A1 Yes 01 Jul 2025 [ICRA]A+ (Stable)/[ICRA]A1 No
16 MAHESH EDIBLE OIL MANUFACTURES PRIVATE LIMITED Agricultural Food & other Products Bank Facilities 2500 01 Jul 2025 Unlisted [ICRA]BBB-(Stable) No No
17 Simran Feeds Private Limited Food Products Bank Facilities 850 01 Jul 2025 Unlisted [ICRA]BB+(Stable) /[ICRA]A4+ No No
18 Joys the Beach Resort Private Limited Leisure Services Bank Facilities 1000 30 Jun 2025 Unlisted [ICRA]BB+(Stable) No No
19 Indel Money Limited Finance Non Convertible Debentures 250 30 Jun 2025 Proposed to be listed [ICRA]BBB+(Stable) No No
20 Orra Fine Jewellery Private Limited Consumer Durables Bank Facilities 750 27 Jun 2025 Unlisted [ICRA]BB+(Stable)/[ICRA]A4+ No No

Disclaimers :

Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity. Additionally, ICRA Ratings should not be treated as a recommendation to buy, sell, or hold the rated debt instruments. For ratings which were un-accepted by the Issuer prior to 1st February 2023, the status in column 9 to 14 is updated only if the respective event has occurred after 1st February 2023.

For ratings which are un-accepted by the Issuer on or after 1st February 2023, the status in column 9 to 14 is shown as on date of issue of this disclosure. The '*' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings.

Please visit our website (https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list (https://www.icra.in/Rating/Index) published on ICRA website for further information on rated instruments.